Boenning Scattergood reaffirmed their buy rating on shares of Retail Properties of America, Inc. (NYSE:RPAI) in a research note published on Thursday. Boenning Scattergood currently has a $18.50 price objective on the real estate investment trust’s stock.
Several other research firms have also weighed in on RPAI. BidaskClub lowered Retail Properties of America from a strong-buy rating to a buy rating in a report on Saturday, September 16th. Zacks Investment Research lowered Retail Properties of America from a buy rating to a hold rating in a report on Saturday, September 2nd. KeyCorp restated a hold rating on shares of Retail Properties of America in a report on Friday, August 25th. Jefferies Group LLC restated a hold rating and set a $13.00 target price on shares of Retail Properties of America in a report on Tuesday, August 29th. Finally, Robert W. Baird restated a buy rating and set a $18.00 target price on shares of Retail Properties of America in a report on Wednesday, November 1st. One analyst has rated the stock with a sell rating, six have given a hold rating and three have assigned a buy rating to the company. The company presently has a consensus rating of Hold and a consensus price target of $16.00.
Retail Properties of America (NYSE RPAI) opened at $12.47 on Thursday. Retail Properties of America has a 1-year low of $11.61 and a 1-year high of $15.81. The company has a current ratio of 0.89, a quick ratio of 0.89 and a debt-to-equity ratio of 0.84. The firm has a market capitalization of $2,879.86, a PE ratio of 11.76 and a beta of 0.48.
Retail Properties of America (NYSE:RPAI) last posted its earnings results on Tuesday, October 31st. The real estate investment trust reported $0.25 earnings per share for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.25. Retail Properties of America had a return on equity of 7.61% and a net margin of 28.84%. The company had revenue of $130.52 million for the quarter, compared to analyst estimates of $132.45 million. During the same period last year, the company earned $0.27 earnings per share. The business’s revenue was down 9.7% compared to the same quarter last year. equities research analysts anticipate that Retail Properties of America will post 1.04 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 10th. Stockholders of record on Wednesday, December 27th will be paid a $0.1656 dividend. The ex-dividend date is Friday, December 22nd. This represents a $0.66 dividend on an annualized basis and a dividend yield of 5.31%. Retail Properties of America’s payout ratio is presently 101.54%.
In other news, Director Gerald M. Gorski sold 4,790 shares of Retail Properties of America stock in a transaction dated Thursday, September 7th. The stock was sold at an average price of $13.59, for a total value of $65,096.10. Following the transaction, the director now directly owns 46,907 shares in the company, valued at $637,466.13. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 0.40% of the company’s stock.
Institutional investors have recently bought and sold shares of the company. Nationwide Fund Advisors bought a new position in shares of Retail Properties of America in the first quarter worth about $162,000. Comerica Bank bought a new position in shares of Retail Properties of America in the first quarter worth about $156,000. Profund Advisors LLC acquired a new stake in Retail Properties of America during the second quarter worth about $143,000. Brookstone Capital Management acquired a new stake in Retail Properties of America during the second quarter worth about $146,000. Finally, Laurion Capital Management LP acquired a new stake in Retail Properties of America during the second quarter worth about $153,000. Institutional investors and hedge funds own 79.10% of the company’s stock.
Retail Properties of America Company Profile
Retail Properties of America, Inc is a real estate investment trust (REIT). The Company owns and operates shopping centers located in the United States. As of December 31, 2016, it owned 156 retail operating properties representing 25,832,000 square feet of gross leasable area (GLA). Its retail operating portfolio includes neighborhood and community centers, power centers, and lifestyle centers and multi-tenant retail-focused mixed-use properties, as well as single-user retail properties.
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